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PM says atmosphere investment-friendly

Expects $8bn investment in FY04-05

Staff Correspondent
Prime Minister Khaleda Zia yesterday said the country is likely to get a total investment to the tune of $8 billion by local and foreign entrepreneurs in the current and the next fiscal years, thanks to what she described as the investmentfriendly atmosphere created by her government.
"A congenial atmosphere is prevailing in the country. So, a huge investment is likely in the current and the next fiscal years," she told the Jatiya Sangsad (JS) on a BNP lawmaker's query during the questionanswer session. "As per a primary assessment of the Board of Investment (Bol), the amount is likely to be around eight billion US dollars."
Quoting the Bol, Khaleda said a total of $76,423 billion in local and foreign investments has been
registered with the board until December last.
She however did not specify the amount invested in the current FY that the BNP MP Rustam Ali Farazi had wanted to know in his written question to the premier.
The prime minister said, thanks to the dynamic steps taken by her government after assuming the office, sustainability has been achieved in the overall economy.
She informed the House that "foreign businesses have responded positively to invest here because of our liberal industrial policy and the congenial atmosphere for investment."
Detailing a few of the investment projects registered with the Bol, Khaleda said a leading investor of
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India, Tata Group, has expressed its interest to invest $2 billion and Dhabi Group of United Arab Emirates about $1 billion in telecoms, infrastructure and tourism sectors.
Besides, Orascom of Egypt, Telinor of Norway, TMI of Malaysia and a number of investors of Dubai also have registered their interest to make considerable investments here, the prime minister said.
"Hi-Tec International Group of Saudi Arabia has proposed to register with the BoI a $2 billion investment in petroleum and oil refinery sectors. An investor of China, Dhaka Sanghai Ceramics Ltd, has submitted a proposal for $7 million investment in ceramics and tiles industries," she went on.
Apart from that, Khaleda said, another Chinese investor, China Metallurgical Construction, would invest $2 billion to set up a methanol plant. The process for signing the agreement in this regard between the investor and the BoI is under way, she added.
SUBMARINE CABLE
Replying to another query, the prime minister said, "We hope the submarine optical fibre cable connecting Bangladesh with the information superhighway will come into operation in August this year."
A total of Tk 657 crore has been allocated for the project, she told the House.